ANZ profit falls as mortgage wars hit big four banks

ANZ has taken a hit to its bottom line amid ongoing competition for home loan customers. (Joel Carrett/AAP PHOTOS)

They're still raking in billions of dollars in profits but the big four banks are feeling the squeeze amid hot competition for home loan customers.

ANZ was the last of the big four banks to report its annual results, which included an eight per cent drop in cash profit to $6.7 billion in fiscal 2024.